Washington Spirit Sell for Record $35 Million to Michele Kang
The reigning NWSL champion Washington Spirit has sold for a record $35 million to Y. Michele Kang, according to people familiar with the deal, marking the end of a long…
Team Sale
NWSL’s D.C. Spirit Sale: ‘Coup, Lies’ Baldwin Says in Letter
The contentious dispute over the sale of the Washington Spirit women’s soccer team grew even more heated Wednesday, as the NWSL team’s controlling owner, Steve Baldwin…
Atlanta Dream’s Loeffler Out After Sale to Real Estate Exec, Former WNBA Star
Larry Gottesdiener, chairman of real estate private equity firm Northland; former Dream star Renee Montgomery; and Northland president and COO Suzanne Abair have…
If Lockdowns Return, $4B to $6B in Team LP Interests Could Turn Over Within the Next 12 Months
With the number of U.S. coronavirus cases spiraling out of control and widespread access to a vaccine months away (even if the FDA were to approve one before the end of…
Ryan Reynolds and Rob McElhenney Win Welsh Club in Test of Media Value
Actors Ryan Reynolds and Rob McElhenney are acquiring a fifth-division English soccer club, and plan to use their own stardom—and a new documentary series—to promote the…
Exclusive
NFL Preparing for Owners To Restructure As Election, Possible Tax Changes Loom
The NFL is gearing up for the possibility that teams may rush to make ownership changes before the end of the year. The league sent a memo Wednesday to executives at all…
Exclusive
Billionaire Fanatics Founder Michael Rubin Increases Stake in 76ers, Devils
Billionaire Michael Rubin, founder and executive chairman of Fanatics, has increased his equity in the Philadelphia 76ers and New Jersey Devils, according to league…
NASCAR Doesn’t Have a Team Ownership Model Problem; It Has a Team Spending and Sales Headcount Problem
Bob Leavine—the owner of Leavine Family Racing (LFR)—announced the sale of his NASCAR Cup Series team (along with its shop, inventory and charter) last week. Spire…
P.E. Deal Volume Down 70-80%, Activity Expected to Pick Up as Sellers’ Valuation Expectations Decline
Private equity firms wrapped up 2019 with a year-end record $1.5T in unspent capital sitting on balance sheets. By March 2020, that number had ballooned to more than…
Could Difficulties Unloading L.P. Stakes in Washington Push NFL to Embrace Funds as Investors?
The Washington Post reported on July 5 that Robert Rothman, Dwight Schar and Frederick W. Smith are all looking to sell their limited partnership stakes in the…
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